Half a million more damaged. 3 Million People are homeless. Protests spread to new york city. Hundreds marched yesterday in manhattan to protest the death of freddie gray. More than 60 people were arrested. Police say they have warned marchers not to block traffic. In baltimore, no major disturbances. A curfew was enforced for a second straight night. Wall street once again reading Interest Rates after the latest comments of that bad. They still might boost borrowing costs before the end of the year. The fed said it expects growth to improve. Bill gross thinks rates will not change in june. Bill gross some would say if we get a strong employment report perhaps its back on, but i think it is off. They simply want to get off the dime and prove they are not healthy, but they can get out of bed and stand on their own two legs. Betty the fed has kept the benchmark Interest Rate near zero since 2008. Twitters chief says there is no dissension in the ranks at his company. It has been a rough week. Shares of slumped after its weak firstquarter results. He says he reacts more to his staff that to critical investors. The board and i are totally aligned. The pressure is more from this you have a team, an entire company of people looking to you to lead them. You want to be successful and rally everyone together and articulate the motivation of why you have to be successful. And show them that those efforts are paying off. Betty the companys warning that its ad sales were slow this month. The have not delivered results the stock down 9 . Bernie sanders officially in the race for the white house. The vermont senator issued a senator said statement today. He is an independent who caucuses with the democrats. A lot happening on the earnings front. They are starting to roll in scarlet fu is keeping tabs on all of them, including exxon. Scarlet exxon mobil reporting a beat and earnings and earnings. The consensus was for earnings per share of . 83, but the range was huge. Exxon mobil is a massive company. It reported earnings per share of a dollar 17 for the quarter 1. 17 for the quarter. Production increased 2. 3 . The reduced Capital Expenditures by 9 . The upstream business posted a loss of 52 million. Terms of how the stock is reacting up 1. 5 on that profit beat from exxon mobil. The dividend increases. Phillips reported results 1. 51. These two Oil Companies, better than anticipated results. Analysts have been bringing down there estimates the last couple of weeks. They probably overshot in terms of bringing down there estimates and companies are beating this lower bar. Conoco phillips reporting results earlier it did post a loss here. . 18 deficit. Conoco phillips not making any changes to its 2015 production which anticipates 5 output growth. It anticipates a drop of 28 from the same time a year ago. The significant downturn in prices has been a test for the industry. Each company is looking to do what they can to whether this downturn weather this downturn. Cutting spending and cutting its dividends and payouts. Between spending cuts top 114 billion. Analysts will be looking for any commentary from chief executives on what else they plan to do with their spending in the coming months as they look for oil prices to stabilize at these current levels. Betty what are they going to do with their spending . Thank you so much. Less than 30 minutes, we will get the latest read on the strength of the u. S. Economy. All eyes will be on several factors, including the eci number which basically gives a snapshot of how much employers are spending on wages and benefits. A big number would suggest that we are finally seeing significant rage growth wage growth. It would be fodder for the fed to raise rates. Joining us is carl rated and joe weisenthal. You did that great piece yesterday this will be important. Consensus of 0. 6 . Joe it is interesting this was not a number that people talked about much in recent months and quarters. Wage growth has become this big question. There is a bit of a split between this measure and some other measures such as average hourly earnings. People are looking to see if this is an early read on pressures that we will start to see elsewhere. We have to step back and look at the year on year rate of change. We have to dive a bit deeper and look at the wage pressures because with all the changes to Health Care Regulation come you can see the benefits number two some odd things. Do some odd things. It is unlikely that you will see a significant acceleration. Wage inflation is a lagging economic indicator. Yesterdays gdp report showing the economy just crawling forward. That tells you there is not a big concern about Wage Inflation anytime soon. Betty the fed statement came out. The fed it seemed to recognize that the labor market is moderating. This is really interesting. They basically said job gains they have moderated. The march report we saw maybe not as big of a throw away as we thought it was one to be. Carl we are concerned about what happened there. Maybe this is evidence of bigger problems in the economy. We are not going to snap back to the times of jobs growth we saw india Fourth Quarter. In the Fourth Quarter. They are concerned about moving to soon rather than too late. They dont want to have to backtrack. June is technically on the table, but they have ruled that out. Betty do you see this uci number eci number how big of a Market Impact this might have . Joe if you were to see a strong number than it could have an impact. On the other hand we know the First Quarter of this year was not very impressive. Any Data Analysis of q1 will be ignored and people will look further. Carl the jobless claims numbers warrant more attention because thats one of our best concurrent Economic Indicators one of the most timely realtime gauges of economic activity. We have seen claims backing up and people are talking it up to chalking it up to noise around these are holiday. That would be a troubling signal that q2 is off to a pretty cool start. Betty is there any reason why . The Easter Holiday is there any reason why they mark streit might start backing up . Carl if we are not getting that surge claims could have more of an upward bias. Betty what is the expectation on wages in the next several quarters . Carl we continue along at the inflation rates weve been seeing. It is a lagging indicator. You are not going to get the vector on wages or Wage Inflation betty you have to say third or Fourth Quarter is going to be great. Carl assuming the economy continues to grow at 2. 25 or better that should push us through full employment and we will start to see Wage Inflation. We are at 5. 5 still above the neutral level. Betty thank you so much. Those numbers in 20 minutes. Another big thing happening today a big announcement from elon musk and tesla. Are they about to change Battery Technology as we know it . Betty here is a look at our top stories this morning. Japans central bank has decided not to increase monetary stimulus even if the bank of japan pushes back his timetable for reaching 2 inflation. The central bank will keep its planned 6iron 73 billion annual pace six and 73 billion annual pace. 673 billion annual pace. Elon musk turning batteries into upright pillars so they can store solar and wind energy. It could mark another business for tesla built on the back of technology designed to Power Electric cars. The new apple much watch may have a problem with your tattoo. Wrist tattoos are interfering with the pulse tracking function. Its because apple found a defect in a key component made by aac technologies. Apple is not commenting about these defects. Safety concerns in baltimore lead to a first for major league baseball. A game played without fans. The orioles beat the Chicago White sox eighttwo yesterday in a game played behind closed doors at camden yards. The white sox manager called the environment surreal. Kind of ghostly. Nobody in the seats coming up we are moments away from the critical signal of whether wages are starting to pick up. Jobless claims numbers are out. Isnt salesforce selling . More to come on that. As i just mentioned, tesla is about to announce its major new product line this evening. We know it will not be a car. It is widely thought to be that home battery. That did not stop elon musk from trying to ramp up the anticipation. Yesterday, he tweeted he posted this image, the missing piece. First off, tell me we hear about the details on this. What is the most significant factor . There are two things that matter to the utility companies. It looks like they will talk about a battery that goes at home that could be used with somebody who has solar panels on the roof. There are also talking about a big battery bought by utilities to help make the grid run smoother and more costeffectively. He could be a competitor on the one hand and a supplier to the utility and a business partner. Betty jamie butters covers the auto market and tesla. Has elon found the secret sauce here to why tesla is going to grow as much as its premium suggests . It is definitely a huge and potentially lucrative business for tesla beyond the auto business that they started with. It is tesla motors that is the name of the company. Most Auto Companies the engine the thing that makes power is a really Important Technology to these companies. Here is tesla with an electric powertrain. Theyre using the battery to make the whole business possible. The analysts have struggled with this because some of them are tech analysts, some are auto analysts, they are now getting into a utility space. Betty it is very much a valuation challenge. Now, he is competing with other players. This is going to be a big deal for the giga factory. Will this be partly what answers where the demand is going to come from . The idea would be, if he weve already seen Hawaiian Electric saying if we can get the batteries, we will use them. Texas utility oncor has talked about being interested. Utility people have been saying that batteries are a holy grail. If someone can make them, they will use them, but they have to make them costeffectively. I have seen ideas, discussions as low as a little over 100 a kilowatt hour that tesla might be able to do its five times what utilities produce power for now. It is really close. The are used in conjunction with the grid, not in opposition. It is an spread out over a lot its not the same thing as you build a gas plant or have a gigantic battery out there. Betty how much does the battery cost . Do we know that . Not really. It is something in the five digit range, at least 10,000. They do so much of the work themselves and with their partner coowner panasonic. It is not the kind of transparency. Its a protected number. Betty thank you for joining us. We will all be awaiting tonight s announcement from tesla. Bill gross is short of a lifetime is an mba still worth its price tag . Betty you are watching in the loop. Good morning. Im betty liu. Upon yields sure didnt bond yields surging across europe. Bill gross added fuel to the fire last week when he called tenure german bonds the short of a lifetime. 10 year german bonds. Good morning, betty. I may be here in sunny Southern California but in los angeles, germany is the talk of the town. That is because of the enormous move we have seen in german bond yields. Go back to april 20. The german tenure Government Bond was yielding 7. 5 basis points. Today, 32. 5 basis points. It is a whole lot more than 7. 5. April 20 was the day before all gross tweeted bill gross tweeted the biggest move into years. In two years. Bill gross did not do much today, just observed. It was very interesting. The situation expressing a lot of liquidity and the fact that investors are banking on mario draghi to buy. Perhaps when he or the ecb doesnt buy, they will look around given the commitment he has made, are you surprised to see the market move this much . When i suggested it was a short of a lifetime, i suggested that over time german Interest Rates would go higher. In the long run we are all goners. It is a remarkable shortterm move. The german 30 year bond is 75 basis points. Over a long time that 75 basis points is worth a premium because they go up and down so much. If there is really a 75 basis points risk premium, that means in germany, investors are expecting the policy rate to be zero for the next 30 years. Even a common sense woman on the street can say that doesnt sound right. It doesnt sound right at all. Bill gross is not the only person short german Government Bonds. Double line capital, a man who respects bill gross but competes with bill gross when it comes to accumulate in capital told me he was contemplating a 100 times leverage short bet against german two years. He is so confident that is a trait of a lifetime. Trade of a lifetime. Gives you a sense of how some of the smartest investors are feeling about whats going on in germany. Betty what did bill gross tell you about what he thinks is not working these days . Erik schatzker the fund has turned around. One of the reasons you saw a smile on his face is because he is performing and thats what a man wants to do. He wants to prove that he has still got it. Gross told me that a few months ago, he put on a curve flattening trade anticipating the shortterm Interest Rate would rise or that longterm Interest Rates american ones, would come down. He is taking the trade off. Partly for that reason. Its doing a whole lot better now. Betty up early on his interview with bill gross. We are seconds away from the economic numbers. We have a lot to go through at a 30. 8 30. A hint of where wage growth is headed for the First Quarter. Of by. 6 up by. 6 . We want to know where consumers are spending with lower oil prices. The numbers are out now. Employment cost index up 0. 7 slightly hotter than what economists had anticipated. Scarlet employment cost index coming in that. 7 at. 7 . It was revised down to. 5 you have a bigger increase than what economists had anticipated. Personal income and personal spending numbers show a bit of a disappointment personal income was flat in the month of march. Personal spending grew at. 4 , a pickup from the prior read at. 2 . Not what economists were looking for. They were anticipating. 5 . We have the pce core number come a measure that the Federal Reserve looks at when you strip out Energy Prices and food prices. That metric shows a gain of. 1 . Economists were looking for. 2 . Slightly slower than what had been anticipated. We also have jobless claims. That number coming in lower than estimated. Fewer people filing for unemployment benefits. We are still well below that 300,000 level. In terms of effect on the markets, looking at futures not much change here. We are still looking at softness and futures now. In futures now. Nasdaq futures off by four. 4 . It is still weaker overall. If i look at the 10 year yield we can see that the yield on a tenure moved a bit higher 10 year moved a bit higher. Employment cost index tracks how much employers are compensating certain positions. An increase of. 7 . Betty no wonder we are not seeing that much movement. Nice to see that jobless claims are moving in an opposite direction. Thank you. Here is a look at our other top stories this morning. The death toll in nepal is over 5500. The earthquake left 3 Million People homeless. Much of the country has no power or running water. 70,000 homes were destroyed and half a million more damaged. This is one rate of light, a story of survival bringing cheers. Rescuers found a teenage boy alive in the wreckage of a building that collapsed. Bloomberg is learning there is now a target for a greek bailout agreement, hoping to have a deal by sunday. Alexis tsipras is taking a bigger role in the talks. Financial professionals are increasingly pessimistic about the crisis. Have say that greece will leave the euro sooner than later. Shell being hurt by slumping oil prices reporting a 56 decline in First Quarter profit. The results still topped an average estimate by bloomberg. Hillary making criminal Justice Reform a centerpiece she spoke in new york city. Clinton says common sense must be brought back into law enforcement. She says the violence in baltimore clearly demonstrates that. Hillary clinton we have allowed our criminal Justice System to get out of balance. These recent tragedies should galvanize us to come together as a nation to find our balance again. We should begin by heating the pleas of freddie grays family for peace and unity. Betty the federal government should make body cameras standard for police officers, according to hillary. In 2010 comes the faa hesitated to give and raise andreas a flying license. Those are some of your top headlines this morning. Still had to come is the golden era for Business Schools over . Is an mba worth it anymore . Betty the next few weeks are critical for those applying to Business Schools as applications are released for the admissions season. For many hopefuls, questions have started to arise and surrounding the 100,000 or more return on investment. Especially when taking into account the results of a poll half of the respondents, 48 say they are paid less than they had hoped for. Only 14 said that their pay exceeded expectations. It is the 48 that sticks out. We want to bring someone who knows exactly what is going on in this world. The university of Chicago Booth School of business dean elon musk sunil kumar. 48 think they are getting paid much less than what they thought. Is an mba worth it . Sunil at chicago booth absolutely worth it. I can give you several reasons why i firmly beli